Pangaea Logistics Solutions (NASDAQ:PANL) Upgraded at StockNews.com

StockNews.com upgraded shares of Pangaea Logistics Solutions (NASDAQ:PANL) from a hold rating to a buy rating in a research report sent to investors on Thursday morning.

Pangaea Logistics Solutions Price Performance

Shares of PANL stock opened at $6.65 on Thursday. The company has a quick ratio of 1.82, a current ratio of 2.16 and a debt-to-equity ratio of 0.57. The company has a market cap of $311.90 million, a P/E ratio of 8.53 and a beta of 0.87. Pangaea Logistics Solutions has a twelve month low of $6.00 and a twelve month high of $9.52. The business has a fifty day simple moving average of $6.58 and a 200 day simple moving average of $7.10.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its quarterly earnings data on Thursday, August 8th. The shipping company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). The firm had revenue of $131.50 million for the quarter, compared to the consensus estimate of $98.09 million. Pangaea Logistics Solutions had a return on equity of 8.76% and a net margin of 7.02%. During the same quarter in the prior year, the firm earned $0.10 EPS. On average, sell-side analysts forecast that Pangaea Logistics Solutions will post 0.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PANL. AQR Capital Management LLC increased its position in Pangaea Logistics Solutions by 131.7% in the 2nd quarter. AQR Capital Management LLC now owns 265,177 shares of the shipping company’s stock valued at $2,076,000 after acquiring an additional 150,713 shares during the period. Dimensional Fund Advisors LP raised its position in Pangaea Logistics Solutions by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,853,611 shares of the shipping company’s stock worth $14,514,000 after purchasing an additional 112,298 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Pangaea Logistics Solutions during the 3rd quarter worth about $761,000. American Century Companies Inc. grew its position in shares of Pangaea Logistics Solutions by 14.1% in the 2nd quarter. American Century Companies Inc. now owns 725,829 shares of the shipping company’s stock valued at $5,683,000 after buying an additional 89,570 shares during the last quarter. Finally, Kingsview Wealth Management LLC acquired a new stake in shares of Pangaea Logistics Solutions in the first quarter valued at about $425,000. Institutional investors own 60.23% of the company’s stock.

About Pangaea Logistics Solutions

Pangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. It offers various dry bulk cargoes, such as grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.